This property offers a total of 6 income-producing units along with an office or storage space, providing a robust cash flow of over $2,000 per month. The unit mix includes 4 studio units, with 3 currently rented, and two 1-bedroom units, all of which are fully rented out. Income Potential: With a strong rental history and long-term tenants, this property presents a stable income stream for investors. Convenient Location: Situated in a convenient location, the property offers easy access to amenities and transportation, enhancing its appeal to tenants. Low Vacancy Rates: The current occupancy rate indicates high tenant satisfaction and suggests low turnover, reducing the risk of income loss. Investment Opportunity: This property represents an excellent investment opportunity for those seeking stable rental income. With a solid cash flow and a mix of unit types, it provides diversification and income stability.
Closed
$154,900
2508 Mishawaka Ave, South Bend, IN 46615
8beds
2,082sqft
Multi Family
Built in 1920
-- sqft lot
$211,500 Zestimate®
$--/sqft
$1,292 Estimated rent
Home value
$211,500
$180,000 - $243,000
$1,292/mo
Zestimate® history
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Storage space
Zillow last checked:
Listing updated:
Listed by:
Gene Risner Cell:574-274-8176,
At Home Realty Group
Bought with:
Traci Parcell, RB20001927
McKinnies Realty, LLC Elkhart
Source: IRMLS,MLS#: 202408742
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Natural Gas
Cooling
- None
Features
- Flooring: Carpet
- Basement: Full
Interior area
- Total structure area: 2,082
- Total interior livable area: 2,082 sqft
- Finished area above ground: 1,728
- Finished area below ground: 354
Property
Features
- Levels: Two
- Stories: 2
Lot
- Size: 5,662 Square Feet
- Dimensions: 43X132
- Features: Irregular Lot
Details
- Additional structures: None
- Parcel number: 710917104002.000026
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Aluminum Siding
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Sewer: City
- Water: City
Community & HOA
Community
- Subdivision: Berner Grove
Location
- Region: South Bend
Financial & listing details
- Tax assessed value: $49,800
- Annual tax amount: $1,230
- Date on market: 5/17/2024
- Inclusions: Building
- Lease term: 12 Months
- Total actual rent: 0
- Tenant pays: Other
Price history
| Date | Event | Price |
|---|---|---|
| 5/16/2024 | Sold | $154,900 |
Source:  IRMLS #202408742 Report a problem | ||
| 5/2/2024 | Pending sale | $154,900 |
Source: IRMLS #202408742 Report a problem | ||
| 4/10/2024 | Price change | $154,900-3.1% |
Source: IRMLS #202408742 Report a problem | ||
| 4/4/2024 | Price change | $159,900-3.1% |
Source: IRMLS #202408742 Report a problem | ||
| 3/17/2024 | Listed for sale | $165,000 |
Source: IRMLS #202408742 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,587 +33.6% | $92,200 +37% |
| 2024 | $1,187 -0.7% | $67,300 +35.1% |
| 2023 | $1,195 +23.2% | $49,800 |
| 2022 | $970 +0% | $49,800 +23.3% |
| 2021 | $969 +20.3% | $40,400 |
| 2020 | $806 -17.1% | $40,400 +0.2% |
| 2019 | $972 -6.3% | $40,300 -1% |
| 2018 | $1,037 -2% | $40,700 +2% |
| 2017 | $1,058 +4.4% | $39,900 |
| 2016 | $1,014 -2% | $39,900 -27.6% |
| 2014 | $1,035 -17.9% | $55,100 +14.6% |
| 2013 | $1,260 +1.1% | $48,100 +1.5% |
| 2012 | $1,246 +22.1% | $47,400 +22.2% |
| 2011 | $1,021 -12.9% | $38,800 -11.4% |
| 2010 | $1,171 +27.7% | $43,800 +22.7% |
| 2009 | $918 | $35,700 -54.8% |
| 2007 | -- | $79,000 +33.9% |
| 2006 | $2,381 +9.9% | $59,000 -28.5% |
| 2003 | $2,166 | $82,490 +953.5% |
| 2001 | -- | $7,830 |
Find assessor info on the county website
Neighborhood: River Park
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Nearby schools
GreatSchools rating
- 3/10Nuner Fine Arts AcademyGrades: PK-5Distance: 0.3 mi
- 4/10Jefferson Traditional SchoolGrades: 6-8Distance: 1.2 mi
- 5/10Adams High SchoolGrades: 9-12Distance: 0.6 mi
Schools provided by the listing agent
- Elementary: Nuner
- Middle: Jefferson
- High: Adams
- District: South Bend Community School Corp.
Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Indiana
- Saint Joseph County
- South Bend
- 46615
- River Park
- 2508 Mishawaka Ave
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